The Four Steps of the Loan Process:The Loan Mortgage Process: Four Steps

Make no mistake, there's a lot involved in oder to get a mortgage loan. You wouldn't be here on our site if you could complete a one-page loan application and receive a great loan check cut the same day. We do the heavy lifting for you, so you can concentrate on what's important — preparing to move into your new home or saving money.

Getting a loan involves four major milestones.

Step one: determine how much you can borrow

A couple of factors determine this amount. What kind of monthly payment are you looking for? And given your unique credit and employment history, income and debt, and goals, how much will a lender loan you? Use the calculators on our website to determine your monthly payment amount. We'll also help you through different scenarios by asking a few simple questions. Because lender guidelines are fairly standard, we can give you a good idea of how much you can borrow after a short conversation.

Step two: pre-qualify for your loan

This step is where First Southeast Mortgage Corporation will begin saving you money. You will give us info about your employment, assets, and residence history. You'll give us information on your employment, asset, and residence history. We will get your credit report and score (with your permission, of course). We'll go over all this info and will provide a pre-qualification letter. Handle it with care — it is a useful tool when you make your offer! With this letter, your real estate agent will negotiate the best deal for your new home. The pre-qual letter gives you buying clout! While you're looking for your new home with your agent, we find the best program for you.

Step three: apply now! We make it easy

Once you've made the offer and it's been accepted, you should apply for the loan. It's very easy, and you can apply online, right here on our site. When the time is right, we will order an appraisal of your new home.

Step four: your loan is funded

The agents will find an escrow/title company to handle the "funding" and closing of the sale. We'll work with this company to ensure the papers your lender needs are in order, and you'll probably}likely sign everything at their officeWe coordinate with this company to set your date to close. Since you won't need to coordinate this process, you get to think about moving logistics, paint colors, new carpet, and the fun parts of getting your new house.

You've answered a few questions, provided lots of information, applied online, and Before you know it, you'll be moving! We do the mortgage legwork so you can spend your time finding your new home.

Have questions about the loan process? Call First Southeast Mortgage Corporation at 954.920.9799. We answer questions about the loan process every day.